This is a reminder that when genuine weakness occurs, central banks here and around the world will buy heavily to stop any downside momentum. Big money is largely holding tight. As we all know pigs will not leave the trough while the farmer is still filling it with slop.
Cooperation within the news media has broken down slightly. AP is putting out a few truthful articles and so is Yahoo finance. On the political scene, Hillary Clinton is pitting the masses against the top one percent. Of course this is completely phony but it will change the discourse and break down other alliances. Up until know criticism of the financial sector has been off limits in the political arena. She would not be taking this approach if their influence was not already waning.
So, at any time the system can fail. Cracks are starting to appear. Just know that the selling has to be considerably more than the central banks can handle. Can they handle all of it? Yes, but only for a short time. Every organized effort to elevate the stock market also destroys the economy’s ability to grow.